The downside of arbitrage is that it takes few days to transfer fiat money. By the time you get cash to transfer back to your bank account and then transfer to your exchange you might be losing money/bitcoins.

I guess you don't live in japan. Usually overseas wire transfer takes 5 business days.

The exchanges in japan will only deposit fiat to a local bank that you have signed up with. That's for bitFlyer and quoine.

To have a bank account in japan you need to be a resident. Also recently thanks to the new regulations, exchanges have to make sure that the people have to reside in japan. I had a registered post card sent to me to confirm it. So the only way to do it is know someone who lives in japan.

Also to me it sounds like you don't have first hand experience with Japanese banks. Even Shinsei which is the most foreigner friendly (since all of the banks in Japan don't want to deal with foreigners), requires me going to a branch to do a wire transfer and fill out all number of forms to comply with ML etc.

Yeah except the reason there's such a large difference is that it's hard for non Japanese people to have a Japanese bank to cash out with. The Japanese banking system is also nightmarishly antiquated, often requiring that people physically go and request a wire transfer while providing all kinds of crazy documents. If it was easy then this price difference wouldn't exist

I'm living in Japan and yes I'm a JP resident. Do someone want to try this? I'm ready to start. Actually I have been looking for a reliable partner residing in the US who can cooperate since 2~3 days ago.

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